• Increases retirement option awareness
• Reduces the cost for members choosing a survivor pension
• Provides for a tax-free spousal income benefit
• Allows for a rebate of costs should the spouse die first
• Tax-free lump sum settlements for your family upon premature death
• Provides necessary risk management to cover tax liabilities on the members field annuity at death
• Increases retirement income for all memebers
• Valuable disability income coverage 24 hours a day (if you qualify)
• Allows member Tax-Deferred savings options

Union Member Pension Plan Example:

Options for Monthly Benefit at Retirement:

Option #1 Life only Benefit*

• $3450 Per Month: You receive this as long as you are alive
• Upon your death: your spouse will receive nothing
• *Based on 30 years of continuous service crediting $115 monthly.

Option #2 Employee & Spouse

• $3105 Per Month: You receive this as long as you are alive
• $1552 Per Month: Your spouse will receive this upon your death
• $345 Per Month: The amount your income is reduced by including the Spouse Benefit

Why modify your plan? Consider the following circumstances:

• Your age: 55
• Spouses age: 52
• Life expectancy: 22 years

$345 loss per month x 12 months is a $4140 yearly loss. Over 22 years that totals a $91,080 loss by including the Spouse Benefit. Once both retiree and spouse die, there is no benefit for children, grandchildren, church or charity.

Option #3 Pension Maximizer

• You select the Life only Benefit
• $3450 Per Month: You receive this as long as you are alive
• $345 Per Month: You pay this each month for Life Insurance
• $400,000 Member Lump-Sum Death Benefit (Income Tax Free)

Income for Spouse with Pension Maximizer: 6.5% of Principal "After-Death"

• In the bank: $400,000
• Annual: $26,000
• Monthly: $2166

Pension Amount for Surviving Spouse

• Under Employee and Spouse Plan: $1552 (Option #2)
• Under Pension Max $2166 (Option #3)

Please note that the above numbers are estimates and are not intended to represent final pension benefits.